Forex: GBP/USD: Pound, consolidating between 1.6280 and 1.6375

By IBT Staff Reporter On 10/19/09 AT 2:44 AM

FXstreet.com (Barcelona) - Pound's rally from 1.5705 low in October 13th, reached 1.6400, 3-week high on Friday, and the Pound has remained consolidating during Monday's Asian session, moving in a range from 1.6280 to 1.6375.

The Pound moves, at the moment of writing, at 1.6300 with next support levels at 1.6280 intra-day low, and below there, 1.6250 (Oct 16 low) and 1.6210. On the upside, Asian session top lies at 1.6375, and, if the Pound breaks above here, 1.6400 (Oct 16 high) and 1.6425.

GBP/JPY rally from levels around 143.00 in October 15 was capped at 149.30 high on the next day and the Pound, after a brief consolidation period, has broken below 148.00 session low to test 147.65 support. Below here, next support levels lie at 147.20 and 147.10. Resistance levels are 149.35/55 and 150.00.